Investment

A clause in the government’s help-to-buy ISA that could make it harder for first time buyers to get on the property ladder has come under attack.

Read the article here.

“Buying a first home today can involve a bewildering array of joint-buyers, gifts and loans from parents, other relatives and support from government incentive schemes. This can lead to large imbalances between the contribution of one buyer and their family, and the contribution of another buyer.”

Read the article here.

“The Government’s target of one million new homes by 2020 is not based on a robust analysis. To address the housing crisis at least 300,000 new homes are needed annually for the foreseeable future. One million homes by 2020 will not be enough.”

Read the article here.

House prices have increased by 32% across British seaside towns over the past decade, amounting to £440 per month, according to the latest research.
The annual Halifax Seaside Town Review revealed average house prices have grown from £166,565 in 2006 to £219,386 in 2016, equivalent to an average increase of £440 per month.

http://www.propertywire.com/news/europe/uk-seaside-towns-premiums-2016060111983.html

Roughly 18% or 200,000 of all British house sales fall through each year, mostly due to ‘gazumping’, where an accepted offer is then rejected when the vendor receives a higher offer from another interested party.

The government wants to speed up the house buying process to reduce the possibility of gazumping and the Department for Business, Innovation and Skills has held talks with the National Association of Estate Agents to discuss how the process could be speeded up.

Read more here: https://estateagentnetworking.co.uk/blog/2016/05/10/a-more-efficient-house-purchase-system/

You can protect your Buy to Let conveyancing fees as a result of gazumping by adding our Exchange Insurance to your conveyancing quotes here.